No merchant business? Apple online store? And a smidge under $11bn in services revenue in the last quarter? The vast majority of that from credit cards (gift cards and carrier billing being the main other routes). Services also growing faster than h/w and at 60% gross margins.
Dan, indeed. I hear ya. Apple as the card issuer and the merchant they bypass Interchange completely. This is a significant part of the merchant fee. At the end of the day, Apple will also become the Acquirer and remove those final pennies. I predict it will be blockchain.
-
-
they bypass the fee, but they have to provide the actual service. Something about iTunes makes me think Apple might not be the most efficient provider of large scale transaction services.
-
Dan, indeed. Great point. I think Apple has crafted a brilliant and sublimely simple buying experience with Apple Pay. It moves a step past the 1-click system that just about created Amazon. These are the nuanced experiences Apple proves folks will pay more for.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
pay is only 1%, 2% if with AP, 3% if AP and on Apple products or services.